Court decides that groundbreaking £150m class action on behalf of UK car buyers can proceed

London’s specialist competition court, the Competition Appeal Tribunal, on Friday gave the green light to a class action on behalf of millions of motorists and businesses, who bought or leased a new car between October 2006 and September 2015, to claim against 5 shipping companies that imported cars into Europe. The class action is one of the first of its kind to be filed in the UK and is estimated to be worth around £150m in damages for car buyers. Woodsford is backing the claim.

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Funder News

Finitive launches IP finance group

New York-based Finitive, a private credit marketplace connecting borrowers with institutional investors, is bringing on Joshua Meltzer as Managing Director and head of the firm’s newly formed Intellectual Property (IP) Finance Group. The group – which will focus on IP litigation funding, IP-based lending and royalty finance, among several other types of IP investment – will broadly pursue situations where Finitive’s technology and extensive investor network can lower transaction costs and unlock value to market participants. Potential transactions include syndication of existing portfolios of IP assets, IP-backed credit facilities and implementation of unique risk transfer solutions.

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Agenda for European Litigation Funding Conference announced

Brown Rudnick has released the agenda for its first annual European Litigation Funding Conference taking place on 17 May 2022 in London. The one-day conference has drawn big names from the international litigation funding market who will discuss topics such as opportunities and innovation in deal structuring, the rise of class actions and opportunities in Europe.

Funder News

Woodsford announces further expansion, with key hires in London and New York

UK-based Woodsford has announced further expansion with the appointment of Conn MacEvilly as Senior Investment Officer in London and Brendan Dyer as Vice President, Business Development in New York. Conn MacEvilly joins from his previous role as Chief of Staff of the United Kingdom Government’s COVID-19 Task Force. Brendan Dyer joins from Goodwin Procter, where he led the firm’s strategic pricing initiatives for both the IP Litigation and Complex Litigation and Dispute Resolution practices.

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